Pfizer (PFE) FY2013 results: revenue $51.6 billion, down 5.6% on the year
Pfizer Inc. (PFE) reported revenue of $51.6 billion for fiscal 2013, the year ended 31 December 2013, down 5.6% on the year before. Net income was $22.0 billion, up 51.0%, and diluted earnings per share $3.19. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$51.6 billion
-5.6% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$22.0 billion
+51.0% on the year
FY2007FY2013
Diluted EPS
$3.19
+64.4% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
51,584
54,657
61,035
-5.6%
Cost of revenue
9,586
9,821
12,500
-2.4%
Gross profit
41,998
44,836
48,535
-6.3%
Gross margin
81.4%
82.0%
79.5%
Research and development
6,678
7,482
8,681
-10.7%
Selling, general and administrative
14,355
15,171
17,581
-5.4%
Interest expense
1,414
1,524
1,681
-7.2%
Pre-tax income
15,716
11,242
11,481
+39.8%
Income tax
4,306
2,221
3,621
+93.9%
Effective tax rate
27.4%
19.8%
31.5%
Net income
22,003
14,570
10,009
+51.0%
Net margin
42.7%
26.7%
16.4%
Diluted EPS
$3.19
$1.94
$1.27
+64.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
17,684
16,746
20,240
+5.6%
Capital expenditure
1,206
1,327
1,660
-9.1%
Free cash flow
16,478
15,419
18,580
+6.9%
Free cash flow margin
31.9%
28.2%
30.4%
Cash from investing
-10,544
6,154
1,843
Cash from financing
-14,975
-15,999
-20,607
Depreciation and amortisation
6,306
7,394
8,701
-14.7%
Share-based compensation
523
481
419
+8.7%
Buybacks
16,290
8,228
9,000
+98.0%
Dividends paid
6,580
6,534
6,234
+0.7%
Dividend per share
$0.96
$0.88
$0.80
+9.1%
Diluted shares, weighted
6,895m
7,508m
7,870m
-8.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
76,307
81,260
82,190
-6.1%
Non-controlling interest
313
418
431
-25.1%
Debt
36,489
37,460
38,942
-2.6%
Other liabilities
58,992
66,660
66,439
-11.5%
Total liabilities and equity
172,101
185,798
188,002
-7.4%
Fixed assets
12,397
13,213
14,673
-6.2%
Goodwill
42,519
43,661
44,569
-2.6%
Intangible assets
39,385
45,146
51,184
-12.8%
Investments
46,631
36,468
33,084
+27.9%
Cash and equivalents
2,183
10,081
3,182
-78.3%
Receivables
9,357
10,675
13,058
-12.3%
Inventory
6,166
6,076
6,610
+1.5%
Other assets
13,463
20,478
21,642
-34.3%
Total assets
172,101
185,798
188,002
-7.4%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.